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Blockchained Web Hosting

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The notable recent increase in Bitcoin prices has rekindled the imagination of many investors, but Blockchain technology is not merely about the money. In this article, we will take a look at how significant an impact this revolutionary technology will have on classic web hosting services.

The concept of cryptocurrency is not rocket science. In fact, this medium of exchange is no more complicated than traditional currency. However, it nonetheless needs a secure and trusting environment in which it can operate, and that is provided by Blockchain.

What is Blockchain? There are many misunderstandings relating to it, but, for the purposes of this article, we will simply define it as a distributed spreadsheet. We are all familiar with Excel or Open Office spreadsheets, but what makes Blockchain so attractive is the way it is distributed.

Just like the files in Torrent, Blockchain is a peer-to-peer network where it is not necessary to ensure trust between parties. Thanks to modern cryptography, the trust is instead maintained on the level of a single record rather than the party hosting it.

Okay, so now we understand the basics of the cryptocurrency revolution, but how, we may ask, does it affect web hosting services? Essentially, in its simplest form, this would suggest not only selling your services in your local currency, but also in Bitcoin and other cryptocurrencies.

However, this is not the end of the revolution. Bitcoin and other digital currencies need electronic wallets to operate, and there is thus huge potential for traditional web hosting vendors. If you have the trust of your customers and are hosting their sites, then why not host their electronic valets?

Each operation in cryptocurrency is a de facto transaction between two electronic valets. Every exchange is maintained through the wallet and you can also provide an interface for your customers to access it. This factor is pivotal in order to fully understand the impact Blockchain can have on your web hosting business.

This said, Blockchain is not only about money. The newest versions of its protocols also provide the opportunity to enact any form of contract between the parties, whether this is a subscription to cable television or indeed any other type of bill. They all need to be stored somewhere, and there is a place for web hosting companies to be involved.

The wallet is thus the key to fully utilizing the potential of Blockchain. Once you understand this, what then should be your next steps?

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Bitcoin.org Hacked By Scammers For A Few Minutes. Someone Sent Them 0.4 BTC

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Bitcoin.org hacked website

Hackers took over the Bitcoin.org website and displayed the classic double your money scam for a few minutes today. Apparently, it was a DNS hack. Luckily, the Bitcoin community took notice and alerted Cobra, the pseudonymous website owner, as well as the company that hosted the domain. A few minutes later, Bitcoin.org was down. Sadly, a credulous person was faster than them and sent 0.4 BTC to the displayed address… or did he?

The transaction exists, but there’s a rumor that it might’ve been the scammers themselves, trying to make the operation look reputable. Just like a busker who put some change in his hat to encourage others to contribute. However, that’s just a rumor. Someone might’ve been scammed.

Related Reading | Old Bitcoin Miner Proves Craig Wright has No Access to 145 Tulip Trust Addresses

In any case, everybody else should thank Matt Corallo, a Bitcoin Core contributor who took it upon himself to contact the domain name registrars and managed to convince them to temporarily take down the site before some catastrophe happened. 

What Does The Bitcoin.org Owner Think About All Of This?

When Cobra announced the Bitcoin.org hack, he or she said, “Currently looking into how the hackers put up the scam modal on the site.” So far, there’s no information on that. Cobra also said that Bitcoin.org “May be down for a few days,” but luckily that wasn’t necessary.

Earlier in the day, Cobra contacted via Twitter their new hosting company Cloudflare and told them that the website has never been hacked, and now that he moved to their servers, this happened. The company responded, and eventually, the original tweet disappeared.  

BTC price chart for 09/23/2021 on Bittrex | Source: BTC/USD on TradingView.com

Does This Have Anything To Do With Craig Wright AKA Faketoshi Nakamoto?

A few months ago, both Cobra and Bitcoin.org made worldwide news. Craig Wright, Australian entrepreneur and Satoshi Nakamoto cosplay artist, got a UK court to order the website to remove the Bitcoin Whitepaper from its servers. At the time, Yahoo! finance informed:

“Cobra, the pseudonymous creator of the Bitcoin.org website, has been ordered by London’s High Court to discontinue hosting its copy of the Bitcoin white paper.

Citing copyright infringement brought forward by nChain Chief Scientist Craig Wright, the judge had no option but to rule a default judgment because Cobra chose not to make an appearance.”

Does the hack have anything to do with Craig Wright? There’s not a single clue to indicate that, but, rumors are flying. He’s the only one incentivized to attack Bitcoin.org, they say. However, 0.4 BTC is a pretty great incentive. Maybe the scammers were just interested in scamming.

Related Reading | Craig Wright Wins Lawsuit On Bitcoin.org Hosting Bitcoin Whitepaper

In any case, to close all the loops, Yahoo quotes Cobra explaining why he chose not to make an appearance in court:

“Unfortunately the court rules allowed for me to be sued pseudonymously, however, I couldn’t defend myself pseudonymously. So I was put in an impossible situation of losing my privacy or losing the case in a default judgment.”

So, to sum it all up, Bitcoin.org is back up again and no one scammed you. All is well that ends well. 

Featured Image: Screenshoot from the hacked website | Charts by TradingView

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Bhutan Partners With Ripple to Deploy Central Bank Digital Currency (CBDC)

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Bhutan Partners With Ripple to Deploy Central Bank Digital Currency (CBDC)